You are here: Home - Mortgages - First Time Buyer - News -

AA launches mortgage deals for all

0
Written by: John Fitzsimons
02/06/2017
AA Mortgages has launched a new range of mortgages, including fee-free five-year fixed rate deals.

The deals are backed by Bank of Ireland, as is the case with the AA’s other financial services.

The products include a five-year fixed rate at 3.99% with no fee for borrowers with a 5% deposit, and a two-year fixed rate at 2.38% with no fee for borrowers with a 10% deposit.

The deals were previously exclusively available to AA members only, but are now open to all applicants.

Michael Johnson, director of financial services at the AA, said: “The AA is here to help and we are now able to offer a selection of mortgages to suit a variety of buyer needs.

“This competitive range aims to make mortgages simple and straightforward, with options for an array of borrowers – whether it’s those wanting to take their first step onto the property ladder or those simply wanting a better deal by remortgaging.”

How good is the AA’s offering?

The AA has provided other financial services for many years such as credit and while it may not be a borrower’s first thought to approach their car breakdown provider for a mortgage, it does offer competitive deals which “should not be dismissed” according to Charlotte Nelson, finance expert at Moneyfacts.

“The AA’s 3.99% five-year fixed rate deal at 95% loan-to-value is highly competitive sitting as the lowest deal in its sector making its mark on best buy tables as a result. The fact this deal has no arrangement fee means this is likely to be a popular choice among first-time buyers,” she said.

“The 2.38% two-year fixed rate at 90% is not the lowest deal in its sector, with deals starting from as low as 1.83%. However, when compared to other deals with no fee this sits just shy of the HSBC mortgage priced at 2.34% for two-years.”

Nelson added that borrowers will need to shop around looking at the true cost of any deal to ensure they get the best option.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
piggy-bank
Challenger storms easy access and notice account best buy tables

Charter Savings Bank has launched two market-leading accounts to “bring some cheer to savers” but you may need to act...

Close